PortfoliosLab logoPortfoliosLab logo

Documentation

Upgrade your plan
SPXE vs. SPYV
Performance
Return for Risk
Drawdowns
Volatility
Dividends

SPXE vs. SPYV

Last updated Jul 14, 2026
Documentation

SPXE (ProShares S&P 500 Ex-Energy ETF) and SPYV (SPDR Portfolio S&P 500 Value ETF) are both S&P 500 funds - SPXE tracks the S&P 500 Ex-Energy Index while SPYV tracks the S&P 500 Value Index. Both are passively managed. With a 1.00 correlation, they move nearly in lockstep. SPXE charges 0.09%/yr vs 0.04%/yr for SPYV.

Performance

SPXE vs. SPYV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares S&P 500 Ex-Energy ETF (SPXE) and SPDR Portfolio S&P 500 Value ETF (SPYV). The values are adjusted to include any dividend payments, if applicable.

Loading charts...

Returns By Period

SPXE

1D
-0.87%
1M
—
6M
—
YTD
—
1Y
—
3Y*
—
5Y*
—
10Y*
—

SPYV

1D
0.18%
1M
1.38%
6M
7.18%
YTD
9.74%
1Y
18.70%
3Y*
14.34%
5Y*
11.54%
10Y*
11.73%
*Multi-year figures are annualized to reflect compound growth (CAGR)

SPXE vs. SPYV - Yearly Performance Comparison

2026 (YTD)
SPXE
ProShares S&P 500 Ex-Energy ETF		-0.77%
SPYV
SPDR Portfolio S&P 500 Value ETF		0.39%

Correlation

The correlation between SPXE and SPYV is 1.00 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

Correlation
Correlation (All Time)
Calculated using the full available price history since Jul 10, 2026

1.00

SPXE vs. SPYV - Sectors Allocation Comparison

Sectors
SPXE
SPYV

Technology

38.6%
22.4%

Financial Services

12.4%
14.5%

Communication Services

10.1%
3.2%

Consumer Cyclical

9.7%
11.1%

Healthcare

9.5%
11.5%

Industrials

8.1%
10.5%

Consumer Defensive

4.8%
8.9%

Utilities

2.8%
4.3%

Basic Materials

1.9%
3.3%

Real Estate

1.9%
3.4%

Energy

0.0%
7.0%

Technology

SPXE
38.6%
SPYV
22.4%

Financial Services

SPXE
12.4%
SPYV
14.5%

Communication Services

SPXE
10.1%
SPYV
3.2%

Consumer Cyclical

SPXE
9.7%
SPYV
11.1%

Healthcare

SPXE
9.5%
SPYV
11.5%

Industrials

SPXE
8.1%
SPYV
10.5%

Consumer Defensive

SPXE
4.8%
SPYV
8.9%

Utilities

SPXE
2.8%
SPYV
4.3%

Basic Materials

SPXE
1.9%
SPYV
3.3%

Real Estate

SPXE
1.9%
SPYV
3.4%

Energy

SPXE
0.0%
SPYV
7.0%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

ProShares S&P 500 Ex-Energy ETF

SPDR Portfolio S&P 500 Value ETF

Often compared with SPXE:
SPXE vs. SPXVSPXE vs. SPXLSPXE vs. SPXUSPXE vs. VOOSPXE vs. SPYSPXE vs. QQQSPXE vs. VTSAX
Often compared with SPYV:
SPYV vs. SPYGSPYV vs. VTVSPYV vs. SPYSPYV vs. SCHDSPYV vs. BRK-BSPYV vs. SPHQSPYV vs. SPYD

Return for Risk

SPXE vs. SPYV — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
SPXE

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

SPYV
SPYV Risk / Return Rank: 7575
Overall Rank
SPYV Sharpe Ratio Rank: 7575
Sharpe Ratio Rank
SPYV Sortino Ratio Rank: 7575
Sortino Ratio Rank
SPYV Omega Ratio Rank: 7474
Omega Ratio Rank
SPYV Calmar Ratio Rank: 7474
Calmar Ratio Rank
SPYV Martin Ratio Rank: 7777
Martin Ratio Rank
The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

SPXE vs. SPYV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares S&P 500 Ex-Energy ETF (SPXE) and SPDR Portfolio S&P 500 Value ETF (SPYV). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

SPXESPYVDifference
Sharpe ratioReturn per unit of total volatility

—

1.90

—

Sortino ratioReturn per unit of downside risk

—

2.67

—

Omega ratioGain probability vs. loss probability

—

1.34

—

Calmar ratioReturn relative to maximum drawdown

—

3.02

—

Martin ratioReturn relative to average drawdown

—

11.48

—

SPXE vs. SPYV - Sharpe Ratio Comparison

Loading charts...

Drawdowns

SPXE vs. SPYV - Drawdown Comparison

The maximum SPXE drawdown since its inception was -0.87%, smaller than the maximum SPYV drawdown of -58.45%. Use the drawdown chart below to compare losses from any high point for SPXE and SPYV.

Loading charts...

Drawdown Indicators

SPXESPYVDifference

Max Drawdown

Largest peak-to-trough decline

-0.87%

-58.45%

+57.58%

Max Drawdown (1Y)

Largest decline over 1 year

—

-6.22%

—

Max Drawdown (3Y)

Largest decline over 3 years

—

-17.54%

—

Max Drawdown (5Y)

Largest decline over 5 years

—

-17.89%

—

Max Drawdown (10Y)

Largest decline over 10 years

—

-36.89%

—

Current Drawdown

Current decline from peak

-0.87%

-0.02%

-0.85%

Average Drawdown

Average peak-to-trough decline

-0.44%

-8.68%

+8.24%

Ulcer Index

Depth and duration of drawdowns from previous peaks

—

1.63%

—

Volatility

SPXE vs. SPYV - Volatility Comparison

Loading charts...

Volatility by Period

SPXESPYVDifference

Volatility (1M)

Calculated over the trailing 1-month period

—

2.48%

—

Volatility (6M)

Calculated over the trailing 6-month period

—

7.19%

—

Volatility (1Y)

Calculated over the trailing 1-year period

10.97%

9.91%

+1.06%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

10.97%

14.34%

-3.37%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

10.97%

16.88%

-5.91%

SPXE vs. SPYV - Expense Ratio Comparison

SPXE has a 0.09% expense ratio, which is higher than SPYV's 0.04% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

SPXE vs. SPYV - Dividend Comparison

SPXE has not paid dividends to shareholders, while SPYV's dividend yield for the trailing twelve months is around 1.69%.

PositionTTM20252024202320222021202020192018201720162015
SPXE
ProShares S&P 500 Ex-Energy ETF		0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
SPYV
SPDR Portfolio S&P 500 Value ETF		1.69%1.77%2.29%1.75%2.22%2.10%2.38%2.25%2.97%2.77%2.39%2.53%

Frequently Asked Questions

With a correlation of 1.00, SPXE and SPYV move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

On fees, SPYV is cheaper at 0.04% per year. The better choice depends on whether you care most about return, fees, risk, or income.

SPYV is cheaper with a 0.04% expense ratio, compared with 0.09% for SPXE.

SPYV has the higher dividend yield at 1.69%, compared with 0.00% for SPXE.

SPXE tracks S&P 500 Ex-Energy Index, while SPYV tracks S&P 500 Value Index. They also come from different issuers: ProShares and State Street. Their fees differ too: 0.09% for SPXE and 0.04% for SPYV.

Portfolio Optimizer

Find the right allocation for SPXE and SPYV

Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.

Open Portfolio Optimizer